Problem

Suppose that a company's monthly sales follow a normal distribution. The mean of this distribution is \(\$50000\) and the standard deviation is \(\$5000\). What are the two properties of this distribution?

Answer

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Answer

The standard deviation of the distribution is a measure of the spread of the distribution, which in this case is \(\$5000\).

Steps

Step 1 ：The normal distribution is defined by two parameters: the mean (\(\mu\)) and the standard deviation (\(\sigma\)).

Step 2 ：The mean of the distribution is the average value, which in this case is \(\$50000\).

Step 3 ：The standard deviation of the distribution is a measure of the spread of the distribution, which in this case is \(\$5000\).

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